The Pure Michigan Small Business Relief Initiative through the Michigan Strategic Fund will utilize federal CARES Act funding to award individual grants of up to $15,000 to approximately 665 small businesses across Michigan.
The grants will be awarded on a “first-in” basis and as a result we expect these funds to GO VERY QUICKLY.
Specifically, this initiative is intended to meet the urgent need of Michigan businesses including restaurants and bars, lodging providers, live event venues and movie theaters, conference and meeting facilities, indoor recreation facilities, and gyms and fitness centers. The grants under the program will support those businesses facing drastic reductions in cash flow. The funds are to be used for working capital to support payroll, rent, mortgage payments, or utility expenses.
It is quite likely all the grant funding will be vouched for on the day the application window opens – Tuesday, Dec. 15. We are hoping to see a strong response from minority and women-owned eligible businesses.
Small businesses are key to building community wealth, and the Michigan Municipal League and the MML Foundation are committed to supporting these activities and more in Michigan communities.